(ix) Make sure that the terms from the accounts available pursuant into a T1 arrangement are not inconsistent with the most effective economic passions of The scholars opening them. The Secretary considers this necessity to generally be met if—
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(1) Beneath the reimbursement payment technique, an institution ought to credit rating a student's ledger account for the amount of title IV, HEA software funds that the scholar or father or mother is suitable to obtain, and shell out the quantity of any credit balance due beneath § 668.164(h), before the institution seeks reimbursement in the Secretary for those disbursements.
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harmony sheet (assertion of financial situation) as of the end of the present interim time period and a comparative stability sheet as of the tip of the quickly previous economical yr
indicates a bookkeeping account taken care of by an institution to file the money transactions pertaining to some university student's enrollment at the institution; and
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The Secretary may well call for an establishment to take care of title IV, HEA software resources within a independent depository account that contains no other money Should the Secretary establishes the institution failed to adjust to—
) The existing award calendar year for a college student who won't receive a Direct Loan but receives funds below some other title IV, HEA system; or
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(1) Under the progress payment technique, an institution submits a ask for for cash into the Secretary. The establishment's request may well not exceed the quantity of money the establishment requires quickly for disbursements the institution has produced or could make to qualified students and parents.